PricewaterhouseCoopers Inks Mega Outsourcing Deal With Nortel Networks

PricewaterhouseCoopers, the world's largest professional services firm, recently landed a multi-year contract to provide business process outsourcing services to Nortel Networks, a global leader in telecommunications, e-business, and wireless solutions for the Internet.

Financial details of the business deal were not released, though sources say it could be valued at more than $600 million over the contract's five-year term.

The agreement calls for PricewaterhouseCoopers to, among other things, integrate and manage the day-to-day operations of several human resource-related functions for Nortel Networks, including payroll, employee expense reimbursement, employee training, legacy systems support groups for human resources, and other corporate functions.

"This agreement demonstrates how Nortel Networks can create value for their shareholders and employees in areas often overlooked by other companies," Raymond E. Bayley, PricewaterhouseCoopers' partner in charge of the firm's North American business process outsourcing practice, said in a press release announcing the new contract.